$2$ pts

Question $47$

The Town of Beatles uses the purchases method of accounting for its inventory of consumable supplies in the General Fund. Assume that the inventory of supplies reported on the General Fund balance sheet at the end of previous fiscal year, December $31,2023,$ was $$6,000$ and a physical count as of December $31,2024,$ reveals that the inventory is $$18,000.$ Purchase of inventory during $2024$ was $$110,000.$ The amount of expenditure related to inventory for year $2024$ will be:

$$122,000.$

$$114,000.$

$$110,000.$

$$98,000.$